ANC: FITCH ratings upgrade
- Fitch upgrades Philippines to investment grade; outlook stable
- included in the report: "Improvements in fiscal management begun under President Arroyo have made general government debt dynamics more resilient to shocks. Strong economic growth and moderate budget deficits have brought the general government (GG) debt/GDP ratio in line with the 'BBB' median. The sovereign has taken advantage of generally favourable funding conditions to lengthen the average maturity of GG debt to 10.7 YRS by end-2012 from 6.6 YRS at END-2008. The foreign currency share of GG debt has fallen to 47% from 53% over the same period."
- Fitch upgrades Philippines to investment grade; outlook stable
- included in the report: "Improvements in fiscal management begun under President Arroyo have made general government debt dynamics more resilient to shocks. Strong economic growth and moderate budget deficits have brought the general government (GG) debt/GDP ratio in line with the 'BBB' median. The sovereign has taken advantage of generally favourable funding conditions to lengthen the average maturity of GG debt to 10.7 YRS by end-2012 from 6.6 YRS at END-2008. The foreign currency share of GG debt has fallen to 47% from 53% over the same period."
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